Avient (NYSE:AVNT) Sets New 52-Week Low – Time to Sell?

Avient Co. (NYSE:AVNT) reached a new 52-week low on Friday . The company traded as low as $37.15 and last traded at $37.38, with a volume of 121722 shares trading hands. The stock had previously closed at $38.33.

Wall Street Analyst Weigh In

A number of brokerages have commented on AVNT. Seaport Res Ptn upgraded shares of Avient from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. Robert W. Baird began coverage on Avient in a research report on Friday, March 14th. They issued a “neutral” rating and a $43.00 price target on the stock. Baird R W raised Avient to a “hold” rating in a report on Friday, March 14th. Wells Fargo & Company dropped their target price on shares of Avient from $59.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Avient from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, February 14th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $51.80.

Avient Price Performance

The stock has a fifty day moving average of $41.78 and a 200-day moving average of $45.31. The firm has a market capitalization of $3.37 billion, a P/E ratio of 20.16, a PEG ratio of 1.25 and a beta of 1.43. The company has a quick ratio of 1.42, a current ratio of 1.88 and a debt-to-equity ratio of 0.88.

Avient (NYSE:AVNT) last announced its earnings results on Thursday, February 13th. The company reported $0.49 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.49. Avient had a net margin of 5.23% and a return on equity of 10.44%. Equities analysts predict that Avient Co. will post 2.85 EPS for the current fiscal year.

Avient Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Tuesday, March 18th will be paid a $0.27 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $1.08 annualized dividend and a dividend yield of 2.93%. Avient’s dividend payout ratio (DPR) is currently 59.02%.

Hedge Funds Weigh In On Avient

Several large investors have recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its holdings in Avient by 56.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 695 shares of the company’s stock worth $28,000 after purchasing an additional 250 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in Avient by 44.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,000 shares of the company’s stock valued at $50,000 after buying an additional 310 shares during the period. Point72 DIFC Ltd bought a new position in Avient in the third quarter valued at approximately $60,000. Headlands Technologies LLC acquired a new stake in Avient during the 4th quarter worth $90,000. Finally, Venturi Wealth Management LLC bought a new stake in shares of Avient during the 4th quarter valued at $96,000. Institutional investors and hedge funds own 95.48% of the company’s stock.

Avient Company Profile

Avient Corporation operates as a formulator of material solutions in the United States, Canada, Mexico, Europe, South America, and Asia. It operates in two segments, Color, Additives and Inks; and Specialty Engineered Materials. The Color, Additives and Inks segment offers custom color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets, and specialty inks; custom-formulated liquid system, such as polyester, vinyl, natural rubber and latex, polyurethane, and silicone; and proprietary inks.